PRINCIPLES OF MARKETING

Activity1 :Marketing Principles and Strategies

Instructions:
1. Click the link and watch the video.
2. Explain the Five Practical Strategies To Sell Anything
https://www.youtube.com/watch?v=ixQ2wdhUVck

WEEK 1 – SESSION 1 ABM_PM11—Ia-b-4

PRINCIPLES OF MARKETING
Activity1 :Marketing Principles and Strategies

Selling is by far the most important skill you will ever learn. No matter who you are,
no matter what is your background, imagine for a moment if you know how to sell. All
what you need to do is come to up with a product or a service and start selling it. And its
only a matter of time before you will be filled with cash. The 5 Practical Strategies to Sell
Anything will focus on how to sell anything to anyone. First is the rule of Authority. We
were more inclined to follow what the expert said because it comes from a credible
source and someone who is a reliable individual. Just when any salesperson hangs their
credentials or certificates to their walls in the office, it gives the customer evidence that
the person they encounter is competent and knows what they are doing. There are
several ways to demonstrate your credibility as person. For example, if you're selling a
medical product, don't forget to mention that you're a doctor with 15 years of
experience in this area, an indirect signal may also have a major effect, such as the title
before your name or the clothes you wear. The second way to sell is to Make the Other
Person Like You. We like people who are similar to us, people who pay as compliments
and those who work with us for mutual goals, instead of starting talking about all the
benefits of your products. First why don't you have a small talk to find some similarities
between the two of you, the more reasons you will give him too the higher the chances
that you will make the sell.
WEEK 1 – SESSION 1 ABM_PM11—Ia-b-4
PRINCIPLES OF MARKETING
Activity1 :Marketing Principles and Strategies

If you are close with someone especially to your friends, if you sell your product surely
they will check and buy out your store. The third is Give and Take. We feel obligated to
give if we have been given, because you feel obligate to return the favor and that's one of
the reasons why sales people usually give you a free sample to try in order to give you
this feeling of obligation to buy the rest of the package, this is one of the most powerful
strategies you can use to persuade someone to buy your product and service. It
shouldn't always be anything physical, sometimes a kind action will cause emotions.
But what more important is be the first to give without appearing like were expecting
something in return make it seem natural as if your are giving it out of love or
friendship. The next step is Principle of Social Proof. We look at the people around us to
determine our actions so if everyone around is getting the new product we are more
likely to follow. And that's what the fastest way of growing or largest selling because
there's no need to convince us directly that the product is good you only need to let us
know that everyone around is using it so it must be good. As a person, we have this kind
of mindset that if everyone is doing it then it must be right its not possible that everyone
is wrong. Because we don't like to be different and we want to be like everyone else so
when come to selling you can just talk about how everyone else is using it.

WEEK 1 – SESSION 1 ABM_PM11—Ia-b-4

PRINCIPLES OF MARKETING
Activity1 :Marketing Principles and Strategies

The last one is Scarcity. People want more of what's less available to them. For instance,
the only reason why diamonds are more costly than gold is not that they're superior in
any way, but merely that they're rare, we experience a sense of disappointment if we
don't have what's less available. In reality, people tend to be more inspired by the
prospect of losing anything than the possibility of obtaining equal value, for example it's
better to persuade someone to go to the gym by saying what they could loss if they don't
go to the gym than by what they might gain , you're probably familiar with the tactic of
when a buyer is told that a certain product is in low supply that if you don't have it right
now you'll have to wait for it. The point is that making your customer like he's going to
miss anything if he doesn't like your product or service will drive him to make a
purchase.

WEEK 1 – SESSION 1 ABM_PM11—Ia-b-4